The bylaws of the American Institute of Certified Public Accountants (AICPA) require that members engaged in the practice of public accounting be affiliated with a firm that is enrolled in an approved practice-monitoring program (Peer Review Program). In recent years, the vast majority of State Boards of Accountancy have also made peer review mandatory for licensure.
In general, an accounting firm peer review is required every three years, the purpose of which is to provide an independent review of a firm’s system of quality control over its accounting and auditing practice.
What We Do
Buchbinder believes a successful peer review service will offer your firm an independent perspective on the effectiveness and efficiency of your firm's policies and procedures. The skilled accountants at our offices in Maryland, New Jersey and New York conduct all our peer review services with a commitment to technical expertise, quality and providing practical recommendations.
A successful accounting firm peer review depends greatly on a firm's commitment to quality and compliance with professional standards. We approach the issues you face from a professional, technical and economic standpoint, with the goal of bringing value to the process. We will identify potential weaknesses in your system while offering recommendations and best practices. Our objective is to help you improve your accounting and audit practice in terms of quality and efficiency.
Buchbinder has offices in New York, New Jersey and Maryland and provides peer review services nationally.
This type of peer review service is for accounting firms that provide audits under generally accepted audit standards, Government Auditing Standards, examinations under the Attest Standards, in addition to reviews, compilations and agreed-upon procedures services. The objective of a system review is to determine whether the system of quality control over the firm's accounting and audit practice is designed to provide reasonable assurance of performing and reporting in accordance with professional standards, and whether the firm is appropriately complying with the system of quality control.